Energy Secretary says gas prices may stay high through 2026 and into 2027

Gas prices aren't coming down anytime soon, and Americans should brace for more expensive commutes and higher food costs as a result. Energy Secretary Chris Wright said over the weekend that fuel prices, pushed up by the war involving Iran, could remain elevated through the rest of 2026 and possibly into 2027. That timeline offers little comfort to voters already feeling the squeeze at the pump, especially with midterm elections just months away.

As of Sunday, the national average for a gallon of regular gasoline was $4.05, while diesel-a key fuel for trucking and farming-was averaging $5.61. Those prices reflect disruptions in global oil shipments tied to the conflict, which began nearly two months ago. Wright, speaking on CNN, said the administration believes prices have likely peaked, but emphasized that a return to pre-war levels isn't expected before next year.

For farmers, the timing couldn't be worse. Spring planting is in full swing, and high diesel prices are driving up the cost of running tractors, irrigation systems, and transport. That means higher expenses for everything from corn to dairy, costs that often get passed down to consumers. One Iowa farmer told CBS News his fuel bill has nearly doubled since last spring, calling it a "crisis" for small operations.

Wright pointed to global supply constraints as the main driver, not domestic policy. Still, the Biden administration is facing growing criticism for its energy strategy, especially from Republicans who argue that reduced investment in fossil fuel infrastructure has left the U.S. vulnerable to price shocks. Some are pointing fingers at former President Trump, noting that his Middle East policies contributed to the current instability.

Yet even if global conditions improve, rebuilding supply chains and stabilizing markets will take time. The administration is weighing options like releasing more oil from the Strategic Petroleum Reserve, but officials say that's a short-term fix with limited impact. Long-term solutions, like expanding refining capacity or accelerating clean energy adoption, won't ease pain at the pump this year.

With inflation still a top concern for voters, high gas prices could shape the political landscape in the months ahead. Analysts say consumers tend to blame the party in power when fuel costs rise, regardless of the root causes. That puts added pressure on Democrats to communicate clearly about why prices remain high-and what, if anything, they can do about it.

For now, the message from the Energy Department is straightforward: Americans should plan for a costly summer of driving and a fall election season where energy will likely be a central issue.